Saham Finances acquires 40% of the Nigerian Unitrust Insurance

Saham Finances has announced the 40%-stake's acquisition of the Nigerian insurer Unitrust Insurance.

The takeover, which the amount has not been disclosed, allow the group Saham to make its entry into the Nigerian market.

Following the recent purchase of 66% of the Rwandan CORAR-AG, the new transaction brings the Moroccan group's presence on the African continent to 20 countries.

Unitrust Insurance works on non-life insurance market. The company achieved a turnover of 19 million USD in 2013, with a net result of 8.7 million USD.

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